Adele Walks Away from $19 Million Contract to Become New Face of L'Oreal

Adele has turned down a potentially massive paycheck.

The Oscar and Grammy winner has walked away from lengthy negotiations to replace Cheryl Cole as the face of L'Oreal, according to The Daily Mail. The singer was reportedly offered a $19 million contract.

"L'Oreal was in negotiations for the deal with Adele and it looked to be happening - but she just changed her mind on it," a source confirmed. "L'Oreal is gobsmacked that she turned down such a huge amount."

Adele entered negotiations with the cosmetics comany in March.

The singer is currently working on her third studio album with Ryan Tedder, who recently told sources that she is sounding "better than ever".

The superstar received the British "Critics' Choice" award and won the BBC Sound of 2008. Her debut album, 19, was released in 2008 to much commercial and critical success. It certified four times platinum in the UK, and double platinum in the US. Her career in the US was boosted by a Saturday Night Live appearance in late 2008. At the 2009 Grammy Awards, Adele received the awards for Best New Artist andBest Female Pop Vocal Performance.